Financial information

All financial information presented on this website is derived from the Group’s consolidated financial statements for various periods and prepared in accordance with International Financial Reporting Standards as adopted by the European Union and the requirements of Cyprus Companies Law, Cap. 113 (EU IFRS). The selections of financial statements for various periods can be found [here]. Certain financial information derived from the management accounts is marked on this website with an asterisk (*). The presentational currency of the Group’s financial results is Russian Roubles (RUB), which is the functional currency of the Company as well as of its Cypriot and Russian subsidiaries.

Non-GAAP financial information

On this website, the Group has used certain measures not recognised by EU IFRS or IFRS (referred to as “non-GAAP measures”). The management believes that these non-GAAP measures provide valuable information to readers, because they enable them to focus more directly on the underlying day-to-day performance of the Group’s business and are frequently used by securities analysts, investors and other interested parties in the evaluation of companies in the freight rail transportation sector. The non-GAAP measures that have been used on this website as supplemental measures of the Group’s operating performance. All non-GAAP financial information is calculated on the basis of EU IFRS financial statements and/or management accounts. Non-GAAP measures requiring additional explanation or definitions appear with initial capital letters and the definitions and explanations are provided in the Glossary section of this website. Other companies in the freight rail transportation sector may calculate the above non-GAAP measures differently or may use each of them for different purposes than the Group, limiting their usefulness as comparative measures. All non-GAAP financial information presented on this website should be used only as an analytical tool and investors should not consider such information, in isolation or in any combination, as a substitute for analysis of the Group’s Consolidated Financial Statements reported under EU IFRS.

Operational and market information

Globaltrans reports certain operational information to illustrate the changes in the Group’s operational and financial performance during the reporting periods. This operational information is derived from management accounts. The selection of operational information for various periods can be found [here]. Terms referring to such operational information appear with initial capital letters with definitions or explanations provided in the Glossary section of this website. The Group has obtained certain statistical, market and pricing information that is presented on this website on such topics as the Russian freight rail transportation market and related subjects from the following third-party sources: Federal State Statistics Service of Russian Federation (“Rosstat”), JSC Russian Railways (“RZD”) and the Federal Antimonopoly Service (“FAS”). The Group has accurately reproduced such information and, as far as it is aware and is able to ascertain from information published by such third-party sources, no facts have been omitted that would render the reproduced information inaccurate or misleading. The Group has not independently verified this third-party information. In addition, the official data published by Russian governmental agencies may be substantially less complete or researched than that of more developed countries.